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BSTDB Increases Funding for SME Leasing Finance in Romania

Press Release | 17-May-2021

The Black Sea Trade and Development Bank is  expanding its support to small and medium-sized enterprises (SMEs) in Romania with a EUR 20 million leasing facility to Garanti BBVA Leasing. The financing will enable the company to meet the demand of Romanian SMEs in acquiring equipment, machinery, and vehicles. The new loan is the third agreement signed by Garanti BBVA Leasing and the BSTDB.

By working with Garanti BBVA Leasing, a trusted partner since 2014, BSTDB funding is expected to reach out to more than 200 companies, thus  contributing to job generation, increased competitiveness and export capacity for the Romanian economy.

“BSTDB remains commited to supporting the leasing market in Romania and we are pleased to continue our partnership with Garanti BBVA Leasing. This new financing  underscores the role of leasing as a flexible alternative for SME finance by facilitating access to finance for companies to overcome economic slowdown and support recovery, at a time when credit implications due to the coronavirus pandemic are still serious.”, said Hasan Demirhan, BSTDB Vice President Banking. “This operation is also a strong testimony of the Bank’s role in supporting regional cross-border investments and we are proud to join forces with Garanti BBVA Group in the times of economic turbulence”.

“Supporting our customers' needs is Garanti BBVA Leasing's number one priority, which is why we are very pleased to continue our long-standing partnership with the Black Sea Trade and Development Bank, through the third agreement. The SMEs represent an important segment of the Romanian economy, and we want to continue to be a solid and trusted partner, by supporting our customers in developing their projects and businesses. We proved our customers that we are a long - term partner for them, and they can rely on us, including in challenging times”, stated Okan Yurtsever, General Manager, Garanti BBVA Leasing.

Established in 1998, Garanti BBVA Leasing (the brand under which the company Motoractive IFN SA operates), is an SME-focused finance lease provider, operating through its head office in Bucharest and six leasing offices across the country. The company has disbursed more than EUR 1 billion for assets under lease since its inauguration.

Garanti BBVA Leasing is part of the financial-group Garanti BBVA Romania, which brings together also Garanti BBVA and Garanti BBVA Consumer Finance. Garanti BBVA Group Romania is held by Garanti BBVA Türkiye (TGB), whose majority shareholder is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s,  “A2” by Moody’s and “A+” by the Russian credit rating agency ACRA. For information on BSTDB, visit www.bstdb.org.
 
Contact:
Haroula Christodoulou
E-mail: cchristodoulou@bstdb.org
Phone: +30 2310 290533
Twitter: @BSTDB; @Haroulax 


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